The corona virus outbreak not only affected people’s health but also affected the economy of the world majorly. The rapid spread of the virus had a serious implication on the international economy.
Many industries suffered the heavy blow of virus-like travel, hospitality, and retail. In the midst of all the negative impact, this virus had on some industries. Some industries stayed unaffected by the pandemic.
The beginning of 2020, was hard in every country. It was a bleak time for the international economy. The pandemic seized normal operations, and the waves of the cases were rising exponentially.
The fear of catching, and spreading the virus was huge among the citizens, and everyone did efforts on their part to keep themselves and everyone safe. Even if it means staying in the house for the coming months. Business all around the world suffered.
Employers had to make tough decisions about their staff members, and some businesses even struggled to stay afloat in the pandemic.
The pandemic was a hard time for the businesses. Many had to let their employees go to cut the cost, and many are closed forever. Numerous employees lost their jobs in the recent covid layoffs, and the unemployment rate surged high.
Moneywise suggests that travel, tourism, hospitality, global shipping and transportation, automobile, entertainment, and clothes were some of the sectors that were hit the hardest.
In these times of chaos, where businesses were closing, people lost their jobs, and all of us fear the virus. No wonder we are living in a time of utmost distress and confusion.
But, not everyone is in the same boat.
Where many industries were hit with the blow that is the corona virus. We went ahead and assumed the worst. That all the businesses will suffer losses and the world economy will tank. But, the reality is where some industries were suffering. Some were untouched from the corona virus wave. These industries not just managed to stay afloat but expanded in the pandemic. These industries were the ones that were hiring employees because of the rise in demand they were facing due to the virus breakout.
In this article, we will look at some industries that not only remained untouched from the pandemic but managed to gain in this chaotic time. Some industries like e-commerce, pharmaceuticals escaped the negative economic effect of the pandemic but gained from this time.
Other industries have now managed to find their footing and deal with the impact of the pandemic. But everyone is asking one question “why didn’t corona virus impact certain industries?” and today we will try to answer that question in depth.
Here we will look at the industries that experienced a positive impact during corona virus and why?
Since the pandemic, the schools were closed to keep the kids safe from the deadly effect of the virus. The schools opted for new ways to teach their kids. Online classes and e-learning became the new normal. And when parents noticed that kids can study via online methods. They enrolled their kids in other e-learning classes benefiting the ed-tech industry.
Platforms providing opportunities to learn online saw exponential growth. Companies like Byju’s enjoyed a monopoly in the market. It also gave rise to employment opportunities in the sector. Many candidates were hired for different roles in the midst of pandemic.
Healthcare and Pharmaceuticals
The Healthcare sector benefited from the outbreak of coronavirus. People were worried about their health, and governments were looking for medicines that will help boost the immunity of the patients affected by the virus.
Many pharmaceutical companies started marketing their products that will provide immunity and shield from the virus, and numerous customers bought these products benefiting the healthcare sector. The hospitals and the manufacturing units also hired new employees, opening the employment opportunity for the candidates.
The shares of the healthcare and pharma companies also gained momentum when the trial for the corona virus vaccine began. During the pandemic, the demand for other medicines and healthcare products also rose. This was directly linked to the employment opportunities in the healthcare industries.
The rise in demand increased the stock value of the company’s shares. Which in turn leads them to hire more employees. Despite heavy fluctuations in the pharmaceutical industry, it is predicted that this sector will enjoy economic growth for a while now.
The corona virus outbreak and the lock-down that was imposed to contain it threw people in panic. The result of the lock-down was panic-buying. People feared the shortage of goods and stocked up on food products like canned items, pasta, bread, and other household items like toilet paper, and even hand sanitiser. The industry needed help to cater to the needs of all the buyers. Hence more employment opportunities for the young and talented.
Since the WHO issued that keeping hands and houses clean. The demand for cleaning supplies along with household goods also increased. The companies that sold disinfectants and cleaning products saw a boost in consumer demand and stock value.
Despite the global pandemic and recession in the economy, people didn’t hold back on spending money on essential products like food and cleaning supplies. And to fulfill the need of a large number of people this sector employed new candidates.
The virus outbreak was responsible for the closing of the physical stores due to the fear of spreading and contracting the virus. The consumers who needed products had to turn online to purchase products.
Due to people switching online to shop for their necessities, online retail sites gained momentum, which benefited the online market. Even the companies delivering food online and delivery services were increased in popularity too.
Big sites like Amazon enjoyed the surge in consumer demand. And they employed talented young individuals because of the heavy load. It was selling vital items across various sectors like food, cleaning supplies, and essential items of the house.
Amazon was described as the “best operator and best positioned”. With the current situation, the stock of the E-commerce sector is predicted to increase. The demand for online retail services and employment opportunities is said to rise following the outbreak of the virus.
Home Entertainment and Social Media platforms
Ever since the outbreak of corona virus, all the countries in the world imposed a lock-down to prevent the spreading of the virus. Social distancing and self-isolation became the way of life. And when people were bored stuck in their homes for months.
They turned to home entertainment to pass their time. Streaming services like Netflix and Amazon Prime reported exponential growth in terms of subscriptions. People subscribed to these services and indulged in movies and TV shows while they were in isolation.
The business of these services grew to such an extent. That Netflix announced an extension for Google Chrome, known as Netflix Party. This allowed people to host virtual movie nights and watch their favorite movies and TV shows remotely with their friends.
Social Networking sites such as Facebook and Instagram were not so far behind in the pandemic. These sites also see a surge in usage, as it allowed people to stay in touch with their connections without stepping out. This rise in demand directly influenced the employment market. The demand for capable employees rose in this sector too.
Following the lock-down, all fitness centers and gyms were close too. This increased the demand for fitness apps and gear. People were opting to work out at home, and they invested their resources in buying fitness gear and equipment for their homes.
The employment opportunities for developers increase too. As they were responsible to keep the app bug-free increased too. The companies selling these products saw a rise in value and employed more help keep the apps running.
Work from home became the new normal amid lockdown. This gave rise to new trends in video conferencing. Business meetings and conferences were moved online, and the apps like Zoom saw a surge in their stock values. It is reported that Zoom enjoyed an 11% rise in shares.
All the companies offering home entertainment or remote conferencing enjoyed a boom because of the corona-virus. People wanted to stay entertained and in contact with their friends and family members.
This increased the demand for such sites and services, directly influencing the employment opportunities in these sectors. These companies are expected to enjoy a rise in demand until the situation goes back to normal.
Food is a basic requirement. Covid or no Covid, people will always spend money on food. But the lockdown took away the dining experience of various people. This doesn’t mean that they will give up their favourite pizzas and burgers.
Restaurant owners had to face the blow of corona virus in the beginning. But soon, by keeping in mind good safety measures for employees and the public. They started offering takeout by employing more delivery men.
With WHO recommending people to avoid cash payments, instead, opt for contactless payment methods. The Fintech industry continues to boom. Most physical stores remain closed in the pandemic, and the traffic soon shifted to online shopping for their needs.
And online sales are directly linked to online payments. The fin-tech industry saw exponential growth, ever since the world was advised to stay into lockdown. This gave rise to various employment opportunities and was one of the sectors that saw a positive impact of covid.
Amid the lockdown, we saw the companies suffer to find a solid footing. Many businesses were closed, and numerous employees lost their jobs. But where most of the world was struggling to adjust to the new normal. Some sectors were enjoying growth.
The situation has improved now, and employment opportunities are rising in every sector. The businesses learned a lot from this outbreak. They started paying attention to the employee’s health and well-being and started valuing them more. It also gave rise to some new sectors that provide new employment opportunities and growth to the world.